Despite these challenges, growing technology companies across Europe should not allow this to put the brakes on their ambitions to expand internationally.

2021 was a year where the world bounced back from the turbulence of the pandemic’s early stages. The UK economy, for example, grew at its fastest pace on record over the year. Things have slowed down considerably since then, but for the tech sector, plenty of cause for optimism remains.

We might not be quite as dependent on tech as we became in 2020, but many ways in which we embraced it – both at work and in our personal lives – have become permanent habits. Many of these behaviours won’t be significantly diminished by the energy or inflation crises, so there’s every opportunity for further international growth if successful tech companies are willing to be bold and push on with their expansion plans.

Offering round the clock support

Building a presence abroad offers numerous benefits, even during times of economic difficulty. If you’ve experienced a few years of success as a tech business, chances are you’ll have customers operating outside your country of origin. This is certainly the case in regions such as central and eastern Europe, where technology companies have excelled by expanding abroad and forming relationships with clients in countries such as the UK or USA.

Opening new offices abroad can be hugely beneficial in helping companies get closer to their international customers. Having staff on the ground in the USA or Latin America, for example, means American customers can deal with someone operating in the same or similar time zone to them, with the relatively short geographic distance also allowing for face-to-face meetings whenever they are needed.

This means enhancing the service offered to your existing customers and creating opportunities for prospective customers in the area too. With feet on the ground just a few cities or states away, potential clientele can be reassured by the offer of 24/7 support and a business that understands their market.

Talent-spotting

As far as finding the right talent abroad is concerned, this need not be a major worry if organisations are prepared to do their research. When choosing where to open an international base, businesses need to be prepared to put in the work to find a location that offers a consistent supply of technical talent.

This means not just identifying the right country to expand into but discovering the right regions within that country to maximise the chances of success.

As well as this, liaising directly with local universities about the courses they offer and what skills students leave with can be invaluable. Building relationships with academic institutions in the region can also be a great way to tap into, for example, the talents of the next generation of software developers. Recruitment efforts should begin long before you land in the office, so the team is ready to hit the ground running.

It’s a granular approach, but one that is always worth it in the long run.

Be bold, even in the face of adversity

There are plenty of economic challenges ahead for all of us, but as it did early in the pandemic, technology will help guide us through. With that in mind, tech leaders shouldn’t be afraid to be brave, driven and determined to make the most of the opportunities available to them.

Even in an uncertain economic and political climate, technology businesses have the strength to succeed.